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Mary's Bakery Is Trying to Determine What Price to Charge

question 6

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Mary's Bakery is trying to determine what price to charge for its cookies,so Mary places a low price on them and raises it each week,keeping track of how many she sells.Then she determines what her cost was for the cookies and determines which price was the most profitable.What form of research was Mary conducting?


Definitions:

Investment

Allocating financial resources with the aim of generating revenue or gains.

Interest

A charge for borrowed money, generally a percentage of the amount borrowed.

Simple Interest Rate

A method of calculating interest where the charge is based only on the original principal, not on the accumulated interest.

Investment

The assignment of monetary values in the hope of making a profit or gaining income.

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